Oliver Reports Massachusetts

Open Houses weekend January 28/29

January 28, 2023 · by Andrew Oliver · in Open Houses

Here are this weekend’s Open Houses (an updated list for Sunday will be posted tomorrow at 8 a.m.):

Click on these links for details:

Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House

And these recent articles: (more…)

New Listings mid-week January 25

January 25, 2023 · by Andrew Oliver · in New Listings

Just a few New Listings:

Click on these links for details: (more…)

Open Houses Sunday January 22

January 22, 2023 · by Andrew Oliver · in Market Reports

Here are today’s Open Houses:

Click on these links for details:

Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House

And these recent articles: (more…)

Essex County 2023 Property Tax Rates: Town by Town guide

January 21, 2023 · by Andrew Oliver · in Market Reports, Property taxes

Property tax rates for FY 2022 for all 34 cities and towns in Essex County have been certified. The first table shows the tax rates in alphabetical order, while the second lists them from low to high.

Tax rates for each town
Alphabetically (download a copy of this table by clicking here) (more…)

How Marblehead’s 2023 Property Tax Rate is Calculated

January 21, 2023 · by Andrew Oliver · in Essex County Housing News, Market Reports, Property taxes

The formula for calculating the property tax is: take the $ amount of the previous year’s Tax Levy, add 2.5% for Proposition 2 1/2, and also add any New Growth (such as new construction or a condo conversion). This figure is the new tax levy. To this figure is added debt service – the Principal and Interest payable on the town’s debt. – to produce the total Tax Levy.

The tax rate is then calculated by dividing the Tax Levy by the Assessed Value of property – and, crucially, that calculation is based upon prices as of January 1, 2022, using date from sales in calendar year 2021. What that means is that 2022 sales are used for the calculation of the tax rate in FY2024 – not FY2023.

Here are the numbers for Fiscal Years 2022 and 2023, remembering that FY 2023 runs from July 2022 to June 2023. (more…)

New Listings week ending January 20

January 21, 2023 · by Andrew Oliver · in New Listings

Just a few New Listings:

Click on these links for details: (more…)

Open Houses weekend January 21/22

January 21, 2023 · by Andrew Oliver · in Open Houses

Here are this weekend’s Open Houses (an updated list for Sunday will be posted tomorrow at 8 a.m.):

Click on these links for details:

Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House

And these recent articles: (more…)

New Listings mid-week January 18

January 18, 2023 · by Andrew Oliver · in New Listings

A still small number of New Listings:

Click on these links for details: (more…)

HOW AND WHEN WILL HOUSING REBOUND?

January 15, 2023 · by Andrew Oliver · in National News

National Association of Homebuilders (NAHB) Chief Economist Robert Dietz recently provided this housing industry overview in the bi-weekly e-newsletter Eye on the Economy.

Housing data for the end of 2022 illustrate a market continuing to weaken because of low housing affordability, largely as a result of elevated mortgage interest rates. At the start of 2023, the average 30-year fixed mortgage rate is near 6.5%, down from a near 20-year high of 7.1% in early November.

However, forecasters expect the Federal Reserve will end its path of rate increases at the end of the first quarter. This should lead to sustainable declines for mortgage rates in the second half of 2023 and into 2024, enough to spur a rebound for single-family construction.

And more construction is needed over the long term: A new NAHB study estimates the housing market is underbuilt by 1.5 million homes. (more…)

Open Houses Sunday January 15

January 15, 2023 · by Andrew Oliver · in Open Houses

Here are today’s Open Houses:

Click on these links for details:

Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House

And these recent articles: (more…)

Hot Home Trend: Gothic Glam

January 15, 2023 · by Andrew Oliver · in Life Style

Here’s one home style that could be described as eerily bold. Ferguson Bath, Kitchen & Lighting Gallery’s latest style report, 2023 Trends & Influences IX calls out “gothic glam” as a trend to watch in the new year.

Signatures of this look includes statement lighting fixtures, such as wrought-iron chandeliers and candelabras. To soften the style, pair it next to tall windows that flood a room with natural light, but also adds to the drama.

Other ways to add some Gothic Glam impact: Bronze plumbing fixtures, black accents, woodwork, vivid jewel tones and ultra-glamorous wallcoverings, Ferguson designers note in the style report.

Here are some stunning examples: (more…)